QuantumScape (NYSE:QS) Trading Down 0.7%

QuantumScape Co. (NYSE:QS) traded down 0.7% during trading on Wednesday . The company traded as low as $5.54 and last traded at $5.55. 1,745,253 shares were traded during mid-day trading, a decline of 81% from the average session volume of 9,302,734 shares. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QS. Robert W. Baird upped their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. UBS Group reduced their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Truist Financial reduced their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.30.

QuantumScape Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The company has a 50 day moving average price of $5.96 and a 200 day moving average price of $6.42.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the prior year, the company posted ($0.25) earnings per share. On average, research analysts expect that QuantumScape Co. will post -0.93 EPS for the current year.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the sale, the chief financial officer now directly owns 556,302 shares of the company’s stock, valued at approximately $3,399,005.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the sale, the chief financial officer now directly owns 556,302 shares of the company’s stock, valued at approximately $3,399,005.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the sale, the director now directly owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The disclosure for this sale can be found here. In the last three months, insiders sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its holdings in shares of QuantumScape by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock worth $1,638,000 after buying an additional 1,481 shares in the last quarter. Spire Wealth Management raised its holdings in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares in the last quarter. Xponance Inc. raised its holdings in shares of QuantumScape by 15.8% during the 4th quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after buying an additional 1,640 shares in the last quarter. CWM LLC raised its holdings in shares of QuantumScape by 31.1% during the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after buying an additional 1,794 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. raised its holdings in shares of QuantumScape by 37.3% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after buying an additional 1,835 shares in the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.